Ground delivery specialist CD&L, based in South Hackensack, NJ, said that while its revenues for the third quarter of 2001 dropped by nearly $3 million compared to the same period last year, it posted profits instead of the losses it incurred in 2000.
CD&L said its revenues for the third quarter 2001 dropped to $40.5 million compared to $43 million in the same quarter last year. The company added that revenues this year included $2.7 million from the June sale of its Midwest business. Net income for CD&L in the third quarter of 2001 jumped into the black, reaching $114,000 versus a loss of $400,000 in the same period last year.
The company said its revenues for the first nine months topped $120.4 million compared to $127.8 million in the same period last year. Operating income for the nine months of 2001 reached $2.6 million versus an operating loss of $1.08 million for the same period last year.
CD&L provides same-day ground distribution and delivery services through 66 offices in 19 states. The company has nearly 2,500 employees and some 1,750 independent contractors.